Macrovision Aquired Muze for $16.5 million
Digital home entertainment company Macrovision Solutions Corp. said Wednesday it agreed to buy Muze Inc., a provider of entertainment product information for stores and online retailers, for $16.5 million in cash.
Macrovision said the acquisition will help enhance its offerings, which are "built to enable consumers to continuously explore digital content by allowing them to easily navigate and find entertainment information."
The deal is expected to close by the end of April. Santa Clara, Calif.-based Macrovision expects the acquisition to add about $5 million to its 2009 revenue estimates. As a result, the company now expects sales of $440 million to $480 million for the year.
It is still forecasting adjusted earnings of $1.15 to $1.45 per share. Analysts, on average, are predicting a profit of $1.27 per share on sales of $458.9 million, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.
For 2010, the company expects the deal to add about $15 million to revenue and about 10 cents to adjusted earnings per share.
Macrovision's shares rose 22 cents to close $19.12. The day's high of $19.15 was a new 52-week high for the stock.
Source: The Associated Press